Wow £50 a week worse off from today

shaftola

Me and my partner have just earned £29500 for the last last tax year, We both work 37 hours per week.
I earn around £17000 my partner earns around £13000,
We have two boys aged 18 months and three and half, both in full time nursery. until today after all the bills are paid including £280 per week in nursery fees with the help of tax credits we're left with around £200 per week for a family of four,
We'd normally receive £244 in tax credits per week which was a massive help towards nursery' we'd add the child benefit to this to make it up to the £280 per week,
From today the payment we receive in tax credits per week will be around £194,
That is massive drop off around £50?
This practically means if one of us stopped work and one of us carried on working we'd be about £10 a week worse off than both of us working full time?
It's crazy,
I also pay 5.9% of my wage into a pension,
The only time we'll probably need a little help off the government while the boys are young and in nursery and it's just not worth it anymore,
Quite a bad day for thousands other people in a similar postion to ourselves,
It's gonna get worse,
Total change of direction for us as a family,
Good luck to everyone who's been affected with these drastic cuts for trying to do things the right way,

Jowo_2

shaftola wrote: »

...This practically means if one of us stopped work and one of us carried on working we'd be about £10 a week worse off than both of us working full time?
,

Is this your assumption or have you modelled this scenario on a benefit calculator, such as the one on the Turn2us website?

tinkerbell28

Eh? I have done things the right way. If the better off lose some benefits so what. £50 a week to someone on 29 k to lose that's ridiculous the govt were ever paying that much. Even what you get now is a lot.

They need to address the huge cost of living here, not subsidise it with tc.

Not all single mums are that way by choice fwiw. You should think yourself lucky you are able to save towards a pension with disposable income of 200 per week!!!

We are probably quite big losers but then, that's life, I'd rather it goes to people who need it. You clearly don't.

dtaylor21184

Well we have taken a similar cut and we don't earn half of your wage so we are in serious trouble now.

shaftola

The chap on the phone from tax credits did some calculations for me with different scenarios, feel right poo at work this morning:-(

Panda_Pie

shaftola wrote: »

Probably because the single mum with a few kids on benefits doesn't tell HMRC that her partner who lives with her, who's supposed to be living at his mums on a good wage but doesnt contribute to the rent and all that have money coming from here there and everywhere

You know I initially read your post with sympathy towards you and your situation ... now thats all gone. The excert I have quoted above is deeply offensive ! I am a single mum, who doesnt have a partner, who does live with her parents [and pays 'rent' to them and before anyone thinks it no I dont claim HB since that would be illegal] and like you with the new tax credit cuts I lose over £2,500 a year ! I do not get child maintence from my childs father ... so dont just shoot your mouth off yes I am sure there are some 'single' mothers that do exactly what you say but dont tar us all with the same brush

bestpud

I've had my eyes opened recently. I had no idea so many families with a reasonable income were raking in hundreds in tax credits!!

No wonder the country is in a mess! It's blamed on those at the bottom of the pile, but in fact, plenty of apparently self sufficient families have been doing very nicely with the help of benefits!!

It's even worse when they moan about pension contributions as that would have increased the tax credit allowance further!

Shocking!! :eek:

LadyLL

Well we are on a lower income than you and with 3 children and we are worser off a week, I wished we earned what you did. I should add I understand in the beginning where you are coming from it does appear that many seem to be worser off working and the same if not working. But to tar all single mums with one brush is not right - I cannot agree with you on that one.

calleyw

I am entitled according to entitled2 to aprrox £1500 a year tax credits but I don't claim for various reasons. And no I am not rolling in it.

Our income halved and that does not include for future wage rises etc approx 5 and half years ago when my husband had a stroke.

And we are very grateful for the benefits that my husband recieves. And if he is deemed fit for work (which he really is not) our income will fall even further.

Do I make a song and dance about it, nope just get on with it. We have learnt to live within our means.

Sadly the last government has made too many people reliant on tax credits. And this is why it has been such a shock to the system. Now with the changes.

Yours

Calley

tinkerbell28

I do get it's annoying to people that "workers" seem to be losing out. Yes I can see how 29k wouldn't go all that far for some, depending on circumstances.

Bills, fuel, pay freezes. Atm life is getting squeezed for everyone. But I don't think you'll get people crying a river, when you can save towards a pension and have about £200 per week disposable.

I think you need to look towards the next tax year and 2013 in particular. If you are using tc to fund your disposable income on 30k be prepared to lose the lot.

I say this as someone in the same boat as you. The govt cannot afford this obscene waste of money. I'd rather they tackle fuel,house prices, inflation, interest rates first. Then they wouldn't need to sub everyones way of life.

Losing cb at 40k, Being pushed into higher tax, tax credits, NI rises, at 29k you are a lot more prepared with £800 pm disposable than someone who earns £800pm full stop.

p00hsticks

shaftola wrote: »

The only time we'll probably need a little help off the government while the boys are young and in nursery

Don't you think that even with the drop, £194 (plus presumably £33.70 child benefit) a week counts as more than a "little help off the government" ?

That's more than my partner earns from a full time job....